ORLANDO, FLA. — Inland American Communities Group has purchased the 218-unit Addison Place Apartments, located on Alafaya Trail in Orlando, from Cedar Trust Services for $12.7 million. Inland American plans to transform the site into a 416-unit student housing complex. Smith Equities Real Estate Investment Advisors’ Paul Guyet and Mark Smith brokered the sale. The student housing property should be open for the start of the 2010 school year.
MIAMI — Perrine Food Retail Corp. has sold the 42,300-square-foot Perrine Food Shopping Center to 11800 N.W. 10th Ave. LLC for $5.25 million. Located at the intersection of 119th Street and 10th Avenue in Miami, the center is anchored by a 22,292-square-foot Food City supermarket and is 100 percent occupied. Harry Blyden and Alan Esquenazi of Coral Gables, Fla.-based Continental Real Estate Cos. negotiated the disposition on behalf of the seller.
DESTIN, FLA. — Moss Anderson Construction Group has completed construction of Legendary Inc.’s $162 million Emerald Grande at HarborWalk Village. Located in Destin, the mixed-use project consists of two 13-story towers, which together house 279 condominiums and 75,000 square feet of retail and restaurant space. The first five stories in each tower have been built as parking garages. Moss Anderson Construction Group is a joint venture between Fort Lauderdale, Fla.-based Moss & Associates and Roy Anderson Corp.
TUSCALOOSA, ALA. — Brian Carlton of Holliday Fenoglio Fowler’s Dallas office has secured a $50.78 million loan for The Greens at Tuscaloosa LP and Lindsey Management Co. The loan will retire construction financing on the 384-unit Greens at Tuscaloosa apartment complex, located at 1800 Links Blvd. in Tuscaloosa. The Greens is situated adjacent to The Links at Tuscaloosa, and together, the two complexes boast 792 units that are 97 percent leased. The 10-year fixed-rate loan was financed by Freddie Mac.
HERNDON, VA. — Strayer Education will move from its current headquarters in Arlington, Va., into 104,914 square feet of Class A office space in Dulles Station East in early 2010. Strayer will occupy the top three floors and 5,000 square feet of the first floor in the building, located at 2303 Dulles Station Blvd. in Herndon. Strayer has signed a 12-year lease for the office space. The six-story office tower is part of Dulles Station, a mixed-use project that will include 993 residences, 1.2 million square feet of office space, 58,000 square feet of retail space and two hotels. Cushman & Wakefield’s Lou Christopher represented Strayer Education, and Jeff Roman and Mike Pepper of CB Richard Ellis represented the landlord, Crimson Partners.
INDIAN TRAIL, N.C. — Charlotte, N.C.-based Crosland has broken ground on the first phase of the 19-acre retail component to its Austin Village mixed-use development. Located at the intersection of Potter Road and Chestnut Lane in Indian Trail, the first phase calls for 65,206 square feet of retail space, including a 48,756-square-foot Harris Teeter. Myers & Chapman will serve as general contractor of the space, which is expected to deliver late next year. When complete, the 100-acre Austin Village will boast 375,000 square feet of retail and office space and 40 acres of residential development.
SAVANNAH, GA. — Atlanta-based R.J. Griffin Co. will break ground November 17 on a 54,896-square-foot classroom building on the campus of Savannah Technical College in Savannah. The three-story building will house faculty offices, a computer lab, clinics for sports medicine and neuro-muscular therapy and 23 classrooms. Delivery of the facility, which was designed by Savannah-based Hansen Architects, is slated for December 2009.
ATLANTA — CRB Realty Associates has master-planned 2,500 acres of land on South Fulton Parkway in Atlanta for Parkway South, an expansive mixed-use development. The company’s goal is to create six separate development areas linked by a pedestrian corridor. CRB Realty, which co-developed Atlanta’s Atlantic Station, is looking to create small to mid-sized warehouses and distribution centers in one area, mid- and low-rise commercial in another and office, commercial, retail and residential space throughout the acreage. The project would necessitate new infrastructure, and CRB would work to accentuate natural landscaping features.
ORLANDO, FLA. — Orlando-based Keene Construction Co. has completed Higgins Development Partners’125,000-square-foot Centergate at Lee Vista. Located at the intersection of McCoy Road and TPC Boulevard in Orlando, the $7 million warehouse property encompasses three buildings and features 24-foot clearance. Tampa, Fla.-based Horton, Harley and Carter provided design services.
MARIETTA, GA. — Helton Real Estate Advisors will break ground next year on the 43,200-square-foot Sanctuary Park West office property. The development, located at the intersection of Barrett Parkway and Dallas Highway in Marietta, will also include a 15,000-square-foot fitness center. Site work is slated to begin next March, and construction will start in July. The fitness center and 20,000 square feet of office space will deliver by the end of 2009.